Citi Vietnam has granted the Straight Through Processing (STP) Awards to 22 Vietnamese banks to recognize their leadership in advanced global payment capabilities.
The awards are based on the STP rate, a rate assigned for accuracy in electronic transfers, which is at least 90%, Citi Vietnam said in a press release May 20.
This is the eighth consecutive year that Citi has recognized local banking partners for such criteria. Last year, 18 Vietnamese banks won the award.
The increased numbers of winners over the years is a clear testimony of the improved payment processing capabilities of both state-owned and joint stock banks in Vietnam, Brett Krause, Citi Country Officer for Vietnam, said in the release.
This year’s winners are Vietcombank, Agribank, Vietinbank, ABBank, VIB, Military Bank, Techcombank, PG Bank, Maritime Bank, VPBank, SeAbank, BIDV, Habubank, ACB, HDBank, Sacombank, Navibank, OCB, DongA Bank, Indovina Bank, Southern Bank and MHB.
Citi has made a long-term commitment to Vietnam and has played a key role in assisting in the development of Vietnam's financial markets.
Citi was the first foreign bank in Vietnam to provide an E-banking support system that helps International Payments divisions monitor transactions. (Investment)
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